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| Balaji Srinivasan Makes Million-Dollar Bet on Bitcoin Hitting $1M in 90 Days as Hyperinflation Takes Hold |
Venture capitalist and angel investor Balaji Srinivasan is making headlines with his bold prediction that hyperinflation is happening now and the price of bitcoin will soon hit $1 million. Srinivasan is backing up his claim with a million-dollar bet that BTC will exceed $1M in 90 days, and is advising investors to buy bitcoin as a hedge against hyperinflation, monetary debasement, bank freezes, and wealth seizure.
Srinivasan has been vocal in his criticism of recent government and Federal Reserve bailouts, citing them as evidence that hyperinflation is already taking place. He has also emphasized that BTC has already proven itself as a hedge against inflation in countries like Venezuela, Lebanon, and Nigeria.
In response to a $1 million bet initiated by James Medlock, who bet that the U.S. will not enter hyperinflation, Srinivasan accepted the wager and proposed buying 1 BTC as a stake. He has moved $2M into USDC for the bet and is seeking a mutually agreed custodian to settle the bet in the event of digital dollar devaluation.
While Srinivasan’s prediction may seem far-fetched to some, he remains confident that hyperinflation is already happening and that BTC will be the key to surviving it. As the future of the economy remains uncertain, investors are keeping a close eye on the market and the outcome of Srinivasan’s bet.
